Nuveen Investments on Dec. 31 completed its acquisition of FAF Advisors, with FAF’s parent company, U.S. Bancorp, receiving a 9.5% stake in Nuveen, plus cash consideration in exchange for investment management of the FAF mutual funds.

The $27 billion in mutual fund assets managed by FAF Advisors, along with investment professionals, have become part of Nuveen. With this acquisition, Nuveen now manages more than $100 billion across a broad range of strategies, and along with its investment boutiques, has more than $195 billion in total assets under management.

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